|CIMPRESS N.V. filed this Form 10-Q on 11/03/2017|
Applies to the 6th-10th anniversaries of the Baseline Date
The last row of Table 1 applies a limit (the "Variable Cap") to the 3YMA value of the share issuance (defined as the number of Shares to be issued multiplied by the 3YMA at the Measurement Date on which the Performance Dependent Issuance is triggered) to a maximum of ten times the 3YMA grant value of this PSU award (defined as the number of PSUs granted multiplied by the Baseline 3YMA). Therefore, in cases of a 3YMA CAGR above 25.8925%, the Company shall apply the Variable Cap (which shall be less than 250.0%) in order to achieve the fixed ten times maximum 3YMA value of the share issuance. The actual closing price of the Shares issued upon the Performance Dependent Issuance may be higher or lower than the 3YMA used to calculate the number of Shares issued at such time.
The calculation of the Variable Cap is as set forth below. The “Measurement Period” is the period of time from the Baseline Date to the applicable Measurement Date.
(10/(1+Measurement Date CAGR)^Measurement Period)) = Multiplier to the number of PSUs
(10/(1+27%)^6) = 238.3% multiplier
Employee SPSU agreement